The Social Security Administration announced that the 2027 annual cost-of-living adjustment (COLA) will be one of the biggest we’ve ever seen.
According to AL.com, at 3.6%, next year’s COLA is not only the largest in four years, but it also ranks 19th among the increases implemented since Social Security began calculating the annual boost in 1977. This year’s COLA, which was only 2.8 percent, tied for 27th.
The highest COLA on record was 14.3 percent in 1980, followed by 11.2 percent in 1981 and 9.9 percent in 1979. No COLA was issued in 2010, 2011, or 2016.
Council of Seniors Is Here To Help Older Americans
All of us here at the Council of Seniors want to improve retirees’ financial futures and ensure they receive their full Social Security benefits. We are working with members of Congress to introduce the “Social Security Restitution Act.” It would provide an estimated $970 one-time payment to every retired worker receiving Social Security benefits to help offset years of inadequate cost-of-living adjustments.
Please take a moment and sign our petition today to show your support.